XML 45 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule Of Income Before Taxes
Income before taxes and the provision (benefit) for taxes consisted of the following:
202120202019
(In millions)
Income before taxes:
United States$144.0 $24.7 $43.0 
Foreign430.6 370.3 301.8 
Total$574.6 $395.0 $344.8 
Provision (benefit) for taxes:
U.S. Federal:
Current$27.1 $(5.8)$(3.8)
Deferred(22.9)(16.3)252.3 
4.2 (22.1)248.5 
U.S. State:
Current5.6 0.8 5.1 
Deferred(2.5)7.1 (0.7)
3.1 7.9 4.4 
Foreign:
Current76.0 62.2 49.2 
Deferred(1.5)(43.6)(471.8)
74.5 18.6 (422.6)
Income tax provision (benefit)$81.8 $4.4 $(169.7)
Effective tax rate14.2 %1.1 %(49.2)%
Schedule Of Provision For Taxes
Income before taxes and the provision (benefit) for taxes consisted of the following:
202120202019
(In millions)
Income before taxes:
United States$144.0 $24.7 $43.0 
Foreign430.6 370.3 301.8 
Total$574.6 $395.0 $344.8 
Provision (benefit) for taxes:
U.S. Federal:
Current$27.1 $(5.8)$(3.8)
Deferred(22.9)(16.3)252.3 
4.2 (22.1)248.5 
U.S. State:
Current5.6 0.8 5.1 
Deferred(2.5)7.1 (0.7)
3.1 7.9 4.4 
Foreign:
Current76.0 62.2 49.2 
Deferred(1.5)(43.6)(471.8)
74.5 18.6 (422.6)
Income tax provision (benefit)$81.8 $4.4 $(169.7)
Effective tax rate14.2 %1.1 %(49.2)%
Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision As A Percentage Of Income Before Taxes (Effective Tax Rate)
The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) as a percentage of income before taxes (“effective tax rate”) was as follows:
202120202019
Statutory federal income tax rate21.0 %21.0 %21.0 %
Increase (reduction) in tax rate resulting from:
Foreign income taxed at different rates0.5 %1.7 %(7.3)%
Change in valuation allowance— %2.0 %— %
U.S. State income taxes1.1 %0.5 %1.5 %
       Stock-based compensation1.7 %1.5 %1.2 %
Excess tax benefit related to stock-based compensation(2.5)%(1.5)%(2.4)%
Other U.S. taxes on foreign operations(1.6)%(1.0)%1.3 %
U.S. Federal research and development credits(2.1)%(2.3)%(2.8)%
Tax reserve releases(2.1)%(4.8)%(4.9)%
Intellectual property restructuring and tax law changes(2.5)%(16.2)%(59.8)%
Other0.7 %0.2 %3.0 %
Effective tax rate14.2 %1.1 %(49.2)%
Schedule Of Deferred Tax Assets And Liabilities The significant components of deferred tax assets and liabilities were as follows:
At the End of Year20212020
(In millions)  
Deferred tax liabilities:
Global intangible low-taxed income$207.6 $219.7 
Purchased intangibles115.8 138.1 
Operating lease right-of-use assets33.5 32.3 
Other12.7 11.3 
Total deferred tax liabilities369.6 401.4 
Deferred tax assets:
Depreciation and amortization474.9 497.1 
Operating lease liabilities
36.4 35.0 
U.S. tax credit carryforwards25.8 32.8 
Expenses not currently deductible43.7 32.3 
Foreign net operating loss carryforwards18.0 16.8 
Stock-based compensation
13.9 10.6 
U.S. net operating loss carryforwards5.8 7.4 
Other35.7 20.6 
Total deferred tax assets654.2 652.6 
Valuation allowance(45.7)(41.3)
Total deferred tax assets608.5 611.3 
Total net deferred tax assets$238.9 $209.9 
Reported as:
Non-current deferred income tax assets$502.0 $510.2 
Non-current deferred income tax liabilities(263.1)(300.3)
Net deferred tax assets$238.9 $209.9 
Schedule Of Reconciliation Of Unrecognized Tax Benefit
The total amount of the unrecognized tax benefits at the end of 2021 was $64.2 million. A reconciliation of gross unrecognized tax benefit was as follows: 
202120202019
(In millions)
Beginning balance$64.1 $71.6 $69.1 
Increase related to current year tax positions9.6 8.0 12.6 
(Decrease) increase related to prior years' tax positions1.3 (0.4)3.8 
Settlement with taxing authorities(1.3)(0.5)(5.7)
Lapse of statute of limitations(9.5)(14.6)(8.2)
Ending balance$64.2 $64.1 $71.6